Hummus Bros has gone into administration

26 June 2018

Hummus Bros has gone into administration

In a blow to the so-called “hipster” generation, the chain of restaurants Hummus Brothers has gone into administration. The chain of six shops based in Soho, St Paul's, Holborn, Eastcheap, Exmouth Market and Grays Inn Road, have appointed Resolve Partners as administrators. In a letter that they posted to Twitter last night, they said that they have faced a perfect storm of rising costs and competition.

The firm also said that it had tried to diversify its offering over the past year to pivot away from the high street by exploring options for providing workplace pop-ups. However, the business was not able to generate enough cash to keep going.

Last year, Hummus Bros raised over £125,000 from investors on equity crowdfunding site Seedrs at a valuation of £9m.

Just a quick note to say a big thank you to all the staff at KSA, our CVA was passed today by creditors voting in an overwhelming number including HMRC to accept the proposal as prepared by KSA.

The road to reach today’s conclusion has been bumpy, but at each stage your team has supported and guided us through the issues and we have reached a very satisfactory outcome to the benefit of customers, staff, all creditors and shareholders.